Question # 1

Bank pays money at its counter for:

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Bearer cheque

Order cheque

Both (A) & (B)

Crossed cheque

Main parties in bill of exchang are.

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Three

Two

Four

Five

On every cheque bank gets

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Profit

Commission

Tax

Duty

Endorsee of cheque is a person

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Who receives the amount of cheque

In whose favour the rights of cheque are transferred

On whom the cheque is drawn

Who draws a cheque

Which type of a bill can be discounted form bank.

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Sight bill

Time bill

Dishonored bill

Unaccepted bill

In case of negotiable instruments, the rights can:

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Be tranferred

Not be transferred

Be conditionally transferred

All of the above

Term dishonoring of cheque is used when

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Bank refuses to pay

Bank stops the payments

Bank delay the payments

Bank gives cheque to clearing house

Cheque is a written order of customer to:

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keep the amount

Transfer the amount

Pay the amount

Recieve the amount

Three grace days are given to debtors for payment.

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Bill of exchange

Promissory note

Bank draft

All of these

Cheque is a credit instrument which is

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Negotiable

Conditionally negotiable

Non negotiable

None of the above

Crossing makes the cheque:

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Unsafe

Unacceptable

Safe

Acceptable

Collateral parties in bill of exchange are.

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Acceptor

Endorser

Endorsee

All these

If drawing of a cheque signs o its back for transferring the rights to another person is called

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Material change

Endorsement

Crossing

Acceptance

Drawer and Drawee belongs to two diffrent cities.

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Inland bill

Short bill

Long bill

Foreign bill

Cheque signed by drawer without filling is called

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Plain

Blank

Open

Traveller's cheque

Who can endorse the cheque:

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Holder of cheque

Drawer of cheque

Both A & B

None of these

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Principles of Banking Icom Part 2 English Medium Chapter 9 Online Test MCQs With Answers

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